DON'T SAY "I'M PAYING CASH!" at CAR DEALERSHIPS - Auto Expert: The Homework Guy, Kevin Hunter

Kevin Hunter
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SUBSCRIBE HERE!! ruvid.net/u-kevinhunter7 #PersonalFinance #Investment #Dealership #Auto Watch the Dave Ramsey Show and think you should pay cash for your next car? Great advice, just don't tell the dealership that up front! Why? They WANT you to have a Car Loan!
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How Car Dealerships Rip You Off (The Truth). Watch out for the SET UP! Buying a Car, Truck, or SUV? Need advice? How Car Dealers Rip you Off (the truth) shares only the 4 Square, but's there's actually four elements in play during the sales process. #carbuying #usedcars #cars #newcar #entrepreneur #carshopping #autotrader #sales #investing #car
The Homework Guy helps you understand how you get tricked into buying a car TODAY when you only planned on LOOKING. Here's where you find the best automotive news and vehicle shopping assistance on the web! Kevin Hunter, author of "13 Car Buying Mistakes" "Is Dealer GAP INSURANCE a Rip-off?" and many others, publishes another great video to help car buyers. This is where you learn how to buy a new or used car at the dealer and not get ripped off.
CATEGORIES: car, truck, suv, auto, used cars, autos, mechanic, automobile, vehicle, dealer, automotive news, auto shop, warranty.
How to buy a car from a dealer with cash, with no credit, with bad credit, with your own bank financing, or with dealer financing. You need to know how to buy a car from a dealership. In this series, you'll get the best car buying tips anywhere. Beating the finance man at the dealership is a big part of it. Categories: car, truck, suv, auto, used cars, autos, mechanic, automobile, vehicle, dealer, automotive news, auto shop, warranty
Has the Dealer Finance Manager ever ripped you off? Car Dealers have a right to make a profit, but do they have a right to lie to you? Here are the "10 BEST Auto Finance tips." Want to know how you beat the Car Dealership Finance Man? This MUST WATCH video for Car Buyers is the advice you've been waiting for on how to survive the finance office at a car dealer. Kevin Hunter lays out the products, strategies, and tricks the finance officers pull every day on unsuspecting car buyers, and many of them get away with what they do. You don't have to be one of the people they succeed in deceiving. Also check out Chevy Dude, How to Spot a dealership scam when shopping for a new car or truck.
The F&I Manager, finance man, loan officer, business manager, or whatever title the car dealer wants to use... just remember you face the most skilled salesperson the dealership employs. They make more money than any other person in the dealership for a reason. They are sharks, and they are NOT looking out for you. They are looking out for themselves and the interests of their dealership. When they "shop" your car deal to many different banks, they are looking for the bank that allows them to pack the most product into your loan. When you start seeing bank names like Santander, Capital One, Chase, Wells Fargo, Space Coast Credit Union, Regional Acceptance Corporation, Ally.. just to name a few, you know you're sitting in a car dealers finance office.
Kevin Hunter covers everything from extended warranties, GAP insurance, theft protection... otherwise known as window etching, paint sealers, carpet and fabric protection. All the details on HOW TO BUY A CAR, TRUCK, or SUV.
This video was published to help you discover how you can save time and money on your next new or used car purchase by doing your homework first, and then going car shopping as an informed buyer.
We are more than amused by a few of the car salespeople or car dealers who contact us and state that we are making a 'small problem' sound far worse than it is. We know there are honest people in the car business, and we receive positive comments from many of them, but it's definitely a buyer beware world out on the car lot!
If you watched the video "Confessions of a car dealers backroom" you understand why you need to see this video. By understanding what mistakes to avoid, you'll not only become a smarter car buyer, but you'll also better understand what not to tell a car dealer when buying a car. It's true that you can play all your cards up front with an honest dealer, but unfortunately, they represent the minority of dealer owners (truly transparent and honest dealers make up about 40% of all dealers), and you are unlikely to know the difference until it's far too late. Be smart, do your homework, and you'll come home with a car deal that's good for you and the dealer. After all, that's what fairness is all about. We encourage you to be fair and honest.
Need to fix your car? Check out Chris Fix or Scotty Kilmer! I also watch the Dave Ramsey Show! You should too!

Autos & Vehicles

Published on


Jun 3, 2020




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Kevin Hunter
Kevin Hunter 4 months ago
Yes, this is a repost. At some point, our team will share the specific reason that prompted the repost. What every loyal fan of this channel needs to know is that dealers would absolutely love it if THE HOMEWORK GUY would just cease and desist with video posting entirely. If you enjoy the content on this channel, you're going to have to share it everywhere you can, and encourage others to share it too, in order to make sure your fellow citizens get the word. The truth is... the automotive world would like us to just disappear. Don't worry, we're not going anywhere, but we do need your help getting the word out!
Matt Wilcox
Matt Wilcox 6 days ago
@BlindLemon FishStix I'm usually indigent, no problem
BlindLemon FishStix
@Matt Wilcox You should be. This is an invitation for an audit from the IRS. If you are not able to match the cash to the dollar from a bank withdrawal, they can make your life hell.
Anna Bananiya
Anna Bananiya 9 days ago
I liked sub and shared on twitter. I don live in usa but in cyprus many dealers sold me dead cars and also the car mechanic destroy cars instead of fixing them , maybe make a video about that.
BIG POOH 12 days ago
Donald F Schiff
Donald F Schiff 18 days ago
@drkjk Bravo!
Marty Mac
Marty Mac 5 hours ago
The title is a little misleading. It makes it where you are NOT going to pay cash, when it is about WHEN you are going to tell them you are paying cash. Other than the title, it was a very informative video.
Greg Allen F1
Greg Allen F1 5 hours ago
Wish I saw this video like 24 hours ago lol. I probably could have saved another $500-$1000 EASY.
Dennis Skinner
Dennis Skinner 8 hours ago
I don't buy new cars. They are all rip offs.
Shaggy Dawg
Shaggy Dawg 10 hours ago
Several years ago I went to the dealer and did tell them I'm paying cash. I got a ballpark number in my mind (from my research on the internet) what is considered to be a fair out-the-door price (including tax, license etc). I think the curve shows anything below $21,500 is an excellent deal. Negotiation did not take that long and I got mine slightly more than 21.5K (about $250 more) but I'm cool with that. I have to admit sales pitch did not stop when I shook the salesman's hand. In the finance department where they finalized the paperwork, they were still trying to sell "extras" like $800 shock sensor security systems, extended warranty etc. They even try to scare me that the car I'm buying is one of the top most stolen car. I turned down all of them.
Adrian Diaz
Adrian Diaz 11 hours ago
college kid here so please bear with me, wait so all the extra fees that are added on i can tell the salesman to get those out of the final price? what kind of fees are included when i buy a car, which are bullshit, and which can i get out of? cuz i thought when you bought a car there was little room to push for a lower price. Why are you allowed to reject certain fees if not most fees that salesmen include in it. cuz if the dealership doesn't make profit on the sales price, but in finance and i try to get if many types of costs cuz i don't want them, then why would they sell me a car? is there a point where they start losing and still sell for some reason? I know you can exclude any accessories but what if it is added on without me knowing. A buddy of mine got some stupid fee added on and he asked for the final price and what was included in it and the salesman never said about the particular fee. Is that legal? also this is in california, i think that's relevant. Also when he talked about lookin up tax, title, and license what does that mean? like there' s a price for these things that the dealer pays and then puts on you and i can look it up myself in my state how much it costs to give me a title, license, and the tax on it? And why are 36 month loans bad for dealership? is it cus they get less interest due to fewer months paid? or could they just give a high interest rate and still screw you over? When he talks about OTD, out the door price, i know that includes fees and accessories allocated to the final price, but is that a price number that the customer picks out in their mind? so you can pick that number and then cut off extra stuff til you hit it. Is there a common value there like 90% of a car's on window price or something? or just where i'm comfortable paying? Lastly, what is shop payment or payment shopping? got no clue what this it
Dutch Boy
Dutch Boy 12 hours ago
Who buys new cars? the same idiots that deface their bodies with tattoes
Dutch Boy
Dutch Boy 13 hours ago
They never tell you that the moment you turn the key and drive off you lose 10k. fuck new cars.
Dutch Boy
Dutch Boy 13 hours ago
I bought a Nice VW wagon used in mint condition for 500 euros and spent 1500 euros making it perfect. new brakes, suspension and cluth and timing belt . total cost? 2000 euros and has run perfect for 5 years, meaniing it cost me about 500 euros a year.
Dutch Boy
Dutch Boy 13 hours ago
Not to mention on a new car you MUST use a dealer to get it serviced ka ching. change your own oil?? the warranty is off.
Dutch Boy
Dutch Boy 13 hours ago
They don't sell cars, they sell CAR LOANS. A buddy had 20k cash in his briefcase and didn't mention it and negoitated a price on the car he wanted to buy., When the salesman asked how he was paying he opened up his briefcase and the salesman went ballistic. He didn't make jack shit on the sale.
Bry Sounds
Bry Sounds 14 hours ago
Thank you!
CheapSkateSimmer 20 hours ago
I will fully admit I suck at car buying, my wife is infinitely better at it than I am. But this is absolutely correct, you always get the out the door price locked in before you talk payment options. I would also add as part of that take that price and go to another dealership and see what they can do, then take that price to another, play the dealerships against each other and you would be amazed at what they will do. I watched my wife emailing and texting with 5 dealerships over a couple of day period, "Well this one said this price," "ohh well I can get this over here," "this one told me they would give me full trade in value." I love watching that woman work, and she loves the fight so its a win-win!
Stan Jay
Stan Jay 20 hours ago
This is bad advice. If you walk away, and say you'll going to keep looking, see what you get I the mail, from that dealership. Who doesn't know that. I've done it and have gotten undermarket prices everytime. They want your money, show it to them, let them show you cars then walk away. This guy thinks you have to stick with one dealer at a dealership. Horrible advice, they want your money, they won't give you a deal. You make a good deal happen.
thenoorer 20 hours ago
god damn it, holy molly, that is the best advice I ve heard in internet since internet is internet.
Khasin Lopez
Khasin Lopez Day ago
Lol this is incorrect on so many levels lol
Doogerauoy Sihtdaer
Always negotiate the lowest OTD price (that includes all tax, titles, fee, etc.). Don't talk about cash, credit or financing until you get the OTD price. Don't worry about high or low interest rate on financing since you're ultimately going to pay cash in the end. Doesn't matter if you're buying a $50k truck or a $5000 motorcycle.
Joseph Fitzsimmons
I’m 3 minutes into this video and still don’t know why cash is bad. Get to the point, man!
John Harris
John Harris Day ago
Just go somewhere the dealership finances themselves and make sure there’s no penalty to pay-off early. Then accept the highest interest rate and buy the car at cost. Then pay the entire note off. 👍🏻
Bernard Jones
Should buyers purchase Gap and additional warranty insurance from the dealer?
Bibi Khan
Bibi Khan Day ago
Thank you for this information
Roddick Day ago
Hello,I am almost ready to by new car(2020 elantra).Dealer offers from the original price(27,900)dealer discount(3,350)and a rebate(3,000) so the final price before tax and license is 6,350.00 lower then MSRP.But they said the rebate is conditional only when I take out a financing. They said:Paid 9,000 and rest of the money to be on a loan and after 3 months do a pay off.Is that right?And if I bring check from my savings acc.is that considered as a cash?Thank you.
einyv Day ago
does writing a check cause the form to be filled out too?
Yongsheng SK
Yongsheng SK Day ago
There's only 2 (Toyota) dealer companies in my country. I wonder how the negotiation and stuff can work here :S
Robin Thomas
Robin Thomas Day ago
Why not just pay it off with the cash once you get ur first payment ? Let them think they got one on you. Easier to get ur way.
Bob Cobb
Bob Cobb Day ago
Thank you
Billybob Day ago
sooo... Act like you're going to need finance Act like you're going to take extended warranty Get them to agree on a figure then sack those things off and pay on the spot The real trick is going to be getting them to go ahead with the agreed on figure when you drop the devastating news that you dont want the finance or warranty
Struffle monst
Struffle monst 2 days ago
The buyer: I'm buyin cash 🤪 Car dealer: "Ooo, this motherfu**r is juicy. So delectable.." 😂
William Yuan
William Yuan 2 days ago
paying in cash is not the wisest choice. with interest rates low, you could be using that cash to invest in stocks, mutual funds, paying down debt, down pay for house, etc. there’s an opportunity cost to consider rather than dropping a lot of cash on a depreciating asset.
Aloysius Pendergast
it is wise for those who have no debts. investing 30k in stocks won't get you much
6of6 2 days ago
When we said we'd pay cash, he knocked off $500 off the OTD price. Maybe I could've saved more! D'oh!.
Jose Ocampo
Jose Ocampo 2 days ago
Men were you up mayby you go we me to the dealership buying a truck i wiill very appreciate
bodasactra 2 days ago
Dont buy from a dealer at all. I am a former dealer and I tell you educate yourself and use auctions. ebay has great dealer auction type prices and its safe if you learn how.
Joel Ramirez
Joel Ramirez 2 days ago
Mr. Hunter. Are you referring to new car sales for these add-ons in finance, used car sales, or both? I ask because I've purchased new and used vehicles and the attempts at add-ons always occur with a new vehicle purchase but not a used car purchase. The only add-on issue I had with a used car deal is the "gap" insurance. Of course, I said no to all add-ons I've been offered. Plus it helps to have your own financing so that all you are concerned about is vehicle price, tax, and licensing/title fees.
Kevin Hunter
Kevin Hunter 2 days ago
Both New and Used Cars.
WJ Contra
WJ Contra 2 days ago
Excellent video! very informational, thank you for that! Now if I have an approved car loan with my own bank, this car loan would be like the cash right? don't mention it until I am in finance?
Aurelio Cepeda
Aurelio Cepeda 2 days ago
What if you take out the loan and just pay it all off on the first month?
Kevin Hunter
Kevin Hunter 2 days ago
You can definitely take the car loan, and then just pay it off. So many people have asked us about it, we launched a video to explain how to best proceed down that road. Check it out here: ruvid.net/video/video-rZaMzqOrLS0.html
Chuckles McGee
Chuckles McGee 2 days ago
I've known some pretty stupid people... but none of them were THIS STUPID! I'll finance my car with the company's current finance deal (sometimes)... because they will offer a very low rate and there will be another rebate, sometimes $3000 or $4000 more... then you only have to use their financing for 60 or 90 days, depending on the company, and then I'll pay it off and save that $3000 to $4000 more than I would have paid without their "own" financing (minus the very, very small amount of interest I paid for those 2 or 3 months).
Ron Gardner
Ron Gardner 2 days ago
Former care salesman, can confirm.
Alfred Collins
Alfred Collins 3 days ago
So best options are 9,000 down payment and finance the rest so no other issues on cash ??
Billie-Joe Hernandez
i love it!
Yo Le
Yo Le 3 days ago
I’m so angry because my parents are looking to buy a new car with cash and my step dad’s plan is to go in and state that rigth off the bat because he believes that every dealership’s purpose is to push the product out the door regardless. I told him no, their purpose is get you on long term loans and interest.
Yang Christensen
Yang Christensen 3 days ago
Nonsense. When I walk in to a dealer, I know exactly what I will pay with cash. If the dealer says no, then good bye. There are thousands of dealers in the United States. If you can't pay cash, you can't afford it.
scottlewis101 3 days ago
My Opinion
My Opinion 3 days ago
When we bought our new vehicle we did not talk about how we would pay until after we were in the office with the guy who would write up the sale. He went over the price we negotiated and then talked about warranties for this and that. We said no additional warranties than what the car comes with. He was not very happy. He actually became rude when we said we would not finance as he was suggesting. We would pay cash out the door. Well, he completed the transaction, excepted our check, gave us a copy of the purchase and then left the office pissed off. We on the other hand left the office with the keys to our new car and drove happily home.
The Draftsman
The Draftsman 3 days ago
The last 2 used cars l bought at actual dealer's ( Passat and 328i) l offered asking price out the door. They always say, we can't do that....then l leave. They always chase me out the door. I force them to figure out the fillers in the deal.
Christina Mac
Christina Mac 3 days ago
While I realize this video was put up months ago, it's timely for me as my husband and I are looking to buy a new vehicle. For myself, after having been ripped off a few times in the past, I would really stress....be prepared to walk away. You may love that car or truck, but it becomes a weight dragging you down if you let a salesman lead you by the nose. Do your research before you go in, or go in and look, leave and do research, and then go back. A car shouldn't be an impulse buy. Thank you so much for your wise advice, Kevin.
Spunkymunky 3 days ago
I paid cash for a car. That's how my people roll. The dealership makes money on the financing. So of course they don't want you to pay cash. Just tell them in the end, after you negotiate price and features. They made me still fill out a financing contract...just in case I didn't show up with the cold hard cash later on that day.
Megan Speziale
Megan Speziale 3 days ago
When do you actually negotiate the price of the car? Is it with the salesman or with the finance officer? I always buy used cars and love to negotiate the price.
William Yuan
William Yuan 2 days ago
Start with the salesman and then he's going to bring in the manager, there's going to be a person with authority who's going to make the deal with you
John 3 days ago
Point of Clarification: You said don't bring cash with you because that's what drug dealers do and you'll have to fill out for 8300. So are you actually paying with cash or with some other cash-equivalent (like a personal check)?
sahan fund
sahan fund 3 days ago
you are A GOD , Thank you sir
Michael Hunt
Michael Hunt 3 days ago
What if someone were to just take the financing option and pay off the car right away?
RobTackettCovers 3 days ago
Can't you just roll with them, take the loan out, then before the first payment hits, just pay off the loan?
RobTackettCovers 2 days ago
@William Yuan oh ok....thanks for responding and hope you and yours are well.
William Yuan
William Yuan 2 days ago
the payoff fee will include some interest so you're going to end up paying more
Freedom Channel
Freedom Channel 3 days ago
I didn't realize people still shop for automobiles at dealerships all my experiences have been negative when purchasing from a dealership all my experiences have been positive paying cash outside of a dealership to a private party
Ace D
Ace D 3 days ago
I say "I already have my own financing and don't need to do the extra paperwork" and have gotten dealers to completely pay off my trade-ins AND get a couple thousand off msrp several times now AND only put $500 down each time (NEVER put too much down. In the case of an accident\total you will lose whatever you put in)
Asad M
Asad M 3 days ago
Well, Kevin, i feel sorry for what is happening in US, they see consumers as a walking meat waiting to be fooled by car salesperson, even more so by their managers. Personally, I am from Canada, born in Pakistan, and proud to be a hybrid holding the flags of two nations. I can proudly say that i haven't heard from my two friends who recently bought a car in Canada from a dealer and they were so cooperative even reduced the prices for them, could say was worth a shopping for them. I Won't tell you where this transaction happened just because i don't US poison to spread in my beloved country(Canada). Please don't get me wrong, i personally only value good character wise people, and what i learned from this video is there are only snatchers and cheaters living in US.
Shaggy Dawg
Shaggy Dawg 10 hours ago
any chance that Canucks are more polite when giving colonoscopy to their potential customers? See your friends even enjoy getting it.
A. Alzate
A. Alzate 3 days ago
I used to work for a reputable dealership & what he just said is so true. I didn't know about form 8300 though.
Mennin Black
Mennin Black 4 days ago
I worked at a car dealer on used cars they hope to make money on the financing and selling extras. Have the deal made and on paper before you tell them your paying cash.
Mo Neenja31
Mo Neenja31 4 days ago
So once we confirm the OTD price and if they ask about down payments, is that when I tell them I'm paying in cash? I'm looking to buy a car this weekend and I'm written up some quick notes and want to make sure i get this right
William Yuan
William Yuan 2 days ago
When you confirm the OTD price in writing (very important). At that point you're going to be talking with the finance manager and not the sales person. There's a chain of command and you always see the sales person bringing in the manager and talking with finance.
Roger Ball
Roger Ball 4 days ago
@Kevin Hunter thanks for the insite. Invaluable
Patrick McNelis
Patrick McNelis 4 days ago
Once had a dealership threaten to toss me out because I refused to give the sales guy my target monthly payment. Once had a dealership tell me the signed deal wasn't valid when I told the finance guy I was paying cash.
Vicky Ferreira
Vicky Ferreira 4 days ago
Oh Lord! I'm not smart enough for this!! I'd get nervous as soon as they start talking about something I don't anything about.
Vicky Ferreira
Vicky Ferreira 4 hours ago
@William Yuan thank you..😊👍🏼
William Yuan
William Yuan 2 days ago
1. Negotiate the price of the vehicle down, ideally the out the door price which includes tax, title, license fees. 2. Don't mention the payment method and if you're paying with cash until you've locked down the OTD price with the finance manager (in writing (very important).
Cord Cutters LI
Cord Cutters LI 4 days ago
Excellent Explanation. I kind of knew a lot of this from buying and selling so many cars over the years. But I have made the mistake of saying I wanted to keep within a monthly payment. Until now, I've seen this all this explained so clearly and efficiently. I just subscribed and can't wait to see what other videos you have.
SpykeZ0129 4 days ago
The one thing I don't mind paying for sometimes is the extended warranty. I had a Pontiac G6 GT which was by far the biggest pile of god damn shit I've ever owned. Paid like 2500 for my top of the line warranty. Well the morons who designed the car made the ball joints and the control arm all one god damn piece and both of them went out on the front. 4000 dollar repair bill. Even with the 200 dollar deductable, the warranty paid for itself right there, and they also covered half the cost of new tires since mine got fucked up. Also had to have the stereo system fixed like 3 god damn times. Constant electrical issues fixed.
Constantine La
Constantine La 4 days ago
You're making more on YT than on a lot.
bridgecross 4 days ago
This is actually not counter-intuitive. Of course someone makes money from financing the purchase. You should only be negotiating the final price with the dealer. But here's a question. Is there any downside to having them write up whatever financing they want, then next month you turn around and pay off the entire loan with your first payment? Provided, of course, you've negotiated a nice clean loan with no crazy document fees or unnecessary products. The principal on the loan is still just the payment price of the car.
Bill Cate
Bill Cate 4 days ago
I was with you until you said you'd be willing to float a short-term loan. Debt is debt no matter how you put it. Sadly, you've bought into the FICO lie. A good FICO score is just a measurement of how much debt you can accumulate. You don't need a good FICO score. You can even get a mortgage without one by working with a "manual underwriter" for a lender (a person who actually looks at your record v. a machine that checks an artificial score).
jocktheglide 4 days ago
I tell them im paying with my EBT card.
Johnny Kool
Johnny Kool 5 days ago
Am I stubborn to walk out on a deal if the car was priced on the high end of its value if I wanted them to meet me in the middle?
Diffidentone 5 days ago
After the final price is determined then you tell them to take another 3 to 5 grand off as that is what you charge for advertising for them with their dealership logos and tags on the vehicle. If they do not agree then either walk out or tell them you want all their advertisements removed from the vehicle. No frickin way I'm paying for their ad, they're paying me.
G B 5 days ago
Great info! Fortunately, now I only buy used vehicles. I have purchased a couple of new cars before with cash, but I'm saving so much more when I buy used.
dklingen 5 days ago
My approach is different and I negotiate the "out the door price" - I never budge off of this and never have adders in Finance as my goal is less than 5 mins in Finance (I hate everything about sleezy Finance). Also if you use Costco it locks the pricing.
Mennin Black
Mennin Black 4 days ago
Sales people at the dealership I worked for were trained to show people around the shop and body shop. It took people all afternoon to by a car. If i had that experience I'd never come back.
Free ToVoice
Free ToVoice 5 days ago
Cut to the Goddamn chase, dude! It should be a minute video.
William Yuan
William Yuan 2 days ago
lol he needs to drag it out as long as possible for the youtube $
NewNow4u 5 days ago
So sounds like the best way to make a deal in on trade in cars, I know they don't like them sitting around on the lot for long
William M
William M 4 days ago
I never buy new. I buy a year or two old with low miles. New car buyers get hosed.
James P Bergeron
James P Bergeron 5 days ago
It's a shame car dealers have been crooked for so long there isn't anybody I know that trust any of them. Been witness to it myself and have a very bad opinion of dealerships. Thank you, as I person who pays cash I'm going in next time with a different approach thanks to your video.
rosie_073016 5 days ago
Thank you so much for this information!!
Andrew Hancock
Andrew Hancock 5 days ago
Yup, words of wisdom. There was a time when I was short for time due to work, and I thought I could work with a dealer, explaining that I intended to buy a car that night, no looking around. You would be a fool to assume that this works. It's just not in to sales person's job description to leave an opportunity unexploited. No financing, no shopping around, and what I didn't check for was the fact that I got a 2013 Fit at the end of 2013. No break in the advertised price. Predation is built right into the business and profession. You can't make it in the industry without it.
Charles Silveira
Charles Silveira 5 days ago
Great stuff!
Pinkie Dlamini
Pinkie Dlamini 5 days ago
When looking for a car and it's priced at a price that you can get approved for a cash loan to purchase it..is that wise to get a loan and purchase a car cash (dealer or owner) or you should stick to financing and pay installments for 36-72months?
Pinkie Dlamini
Pinkie Dlamini 5 days ago
So my question is...when I go to the dealer to look at cars with a price range in mind(installment wise), is it best to seek finance from your bank yourself or leave it to the dealer to negotiate for you?
Sir Jorah Mormont
Most dealers will take a debit card or personal check if you show them your balance online. I worked in the car business for twenty years at dealerships and I was an underwriter for Capital One Auto Finance for seven years. That's the person that determines what the customers interest rate will be. So there's a buy rate for the dealership and what's called participation. Participation is the number of interest points they can add to the buy rate. For example if the buy rate is 5% and the participation is 2.5 points the F&I will present the deal at 7.5%. Capital One caps dealer participation at 2.5 points. This is information is gold for your followers. Ask for a document called The callback, this document outlines all the above information. Advise your customers to only allow one point above the buy rate. Every dealer I worked for will not waive or negotiate the Doc Fee. It varies from state to state, but it's capped at different prices. It's somewhat legitimate, it covers the porters labor to get the car ready for sale and the title clerk registering the car on your behalf. I personally don't consider a Doc (documentation fee) shady. I worked in Missouri the max Doc fee was $299.00 and I also worked in Texas where the max was $125.00. I personally would not walk over that. If you have any questions please let me know. Capital One is a Subprime lender for customers that have poor credit scores. Always buy gap insurance through your auto insurance company it's about 1/3 of the price versus what the dealer will charge. I hope this helps!
Nigel Carruthers
Nigel Carruthers 6 days ago
Car salespeople around the country down-voted this video... lol
J Barry
J Barry 6 days ago
Paid cash for my new car and the last 3 motorcycles. Always got a good deal and totally hassle free. Need to trxt/email numerous dealers and salesmen, but someone always steps up.
Web Wanderer
Web Wanderer 6 days ago
What straight talk???? This whole video fits in less than 5 minutes without all the redundancy. And it only opens many more questions like what happens fi you do finance but you use external financing, not the financing from the dealership?
tim kahn
tim kahn 6 days ago
bet if they add on a charge and you start walking they change their mind. and dont charge more for cash.
albert dean castillo
Remember two important things half down and 36 months.
AJ Walker
AJ Walker 6 days ago
He didn't say what to do instead of bringing cash if you want to pay cash? ¯\_(ツ)_/¯ All the other steps are spot on but there seems to be something missing. After the OTD price and you still want to pay cash, do you write a check? Go and come back with the cash? What? ¯\_(ツ)_/¯
Wayne M
Wayne M 6 days ago
If the new car dealers don't want my cash I guess I'll buy a used vehicle privately. I have no intention of learning how to play this stupid game their way. They aren't giving me money, I'm trying to give it to them. The world is truly upside down.
Vessel of the Auditor
there is some truth to this technique...in 2017 i went to buy a truck...after using my technique similar to this on a ram truck costing 38k...i walked out the door with the truck for 18k cash...last year i took my son to the same dealership...he wanted a better truck than dad...he picked out a quad cab ram with hemi and all the options...48k...we walked out of the dealership with the truck for 25k cash...my son asked me if i felt bad for "screwing" the dealership out of that much money...i said "son"....they didn't feel bad about trying to screw you out of it...he just said "good point dad"...
Tonta Stoner
Tonta Stoner 6 days ago
I want to buy a used car but have no trade in. I live in RV & have truck I own outright, what is best way to approach this purchase?
BlindLemon FishStix
How can I find the fee schedule for my state? I ran a couple of searches and the only thing I was able to find was a "median" documentation fee listing, which is of no interest. The state statutes also do not list the required or allowed fee amounts. Also, can dealers charge you a fee for credit card payment for the vehicle?
Omar the Atheist Aziz
so how would one by a car with cash if the cars worth over 10,000? do you come back to pay in intervals? or mail them a paycheck?
William Yuan
William Yuan 2 days ago
buying a car with cash means a one time payment (check, cashiers check), not in intervals, that's financing
James McDonald
James McDonald 7 days ago
But this is so anti- Rave Damsey!
Judgment Proof
Judgment Proof 7 days ago
If you intend to pay cash, don’t say otherwise, it’s a lie
Riocasso 7 days ago
I got a car that was $7k+ for $5k cash lol
chhin chhay
chhin chhay 7 days ago
Hi all. Please enlighten me here I'm first time to buy a new car. Say I configure options I want and trim on the website. What is the best deal in percentage I should aim to negotiate? I see people talking about best deal but how many percentage? And is it also depend on brand for example American car would see better deal than Japanese car? Thanks folk.
LordDeliverUs 7 days ago
Excellent info thank you!
Tom Connors
Tom Connors 7 days ago
Could this apply in Canada.
JaidenS Hill
JaidenS Hill 7 days ago
Woah, I have done this many times and was thinking that I would get a better deal. He is so right. In the future, my mouth is sealed until in financing 🤫.
Mon Mi
Mon Mi 7 days ago
These videos are amazing but I just can't or is not in my personality to go there and fight fight fight.....there must be other options. I for example made lease with Volvo, 2 years ago, and everything was set online directly with Volvo, not even the car dealership. Of course it was a lease but the easier manufacturers makes these transactions...the bigger number of customers they will get.
Reign Westry
Reign Westry 7 days ago
lol, I was asking what the total was even before I realized what was going on. Now, I understand why I had such a shady time when I was car shopping. I love this video very informative
matty jazzy
matty jazzy 8 days ago
thats what drug dealers do...HHHHAAHAHHAHAHAAA!!!
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